Your Accounts Payable Automation Solution

Team Paper Team ECM

Two accounts payable teams face the pressure of more invoices and more complex processes.

One has automated invoice processing with Enterprise Content Management (ECM), and the other hasn’t.

Let’s see how they match up against some of today’s toughest AP challenges:

Paper-driven, error-prone system

ONBASE BY HYLAND

DATA-ENTRY ERRORS

MISPLACED DOCUMENTS

MISSED OR DELAYED PAYMENTS

NEEDLESS DISCREPANCY RESOLUTION AND

EXTRA APPROVALS

Automated, organized process

CAPTURE AND EXTRACT INVOICE DATA LIKE

PO NUMBERS, DUE DATES, AND EVEN LINE-ITEM

DETAILS.

ELECTRONICALLY DELIVER THAT DATA TO

THEIR ERP SYSTEM.

AUTOMATICALLY ROUTE INVOICES TO

STAKEHOLDERS FOR APPROVAL.

Inaccessibledocuments

Mobile employees can’t access documents and information needed to approve invoices, delaying processing until they are in the office. Invoice data is only stored in the ERP. The organization pays for additional licenses to grant non-AP employees access to the ERP so they can approve invoices.

Limited insight, increased liability

Data is scattered across a mix of paper and electronic files. AP staff struggle to locate critical documents and proactively address missing or outdated information. This:

With OnBase enterprise content management, you can:

Remotely available files

All AP documents are stored in a centralized ECM database that can be accessed on- or off-site through web, mobile, and email applications.

Remote and non-AP employees access relevant documents and approve invoices without logging into the ERP.

Accurate reporting and budgets

All documentation is stored in a single database. AP staff easily locate the information they need and can see what information is missing. The AP manager uses dashboards to monitor the status of invoices. They easily summarize liabilities for accurate reporting and a real-time view of outbound cash flow. AP staff have a clear and auditable trail for every touch of a document.

IFO Accounts Payable Efficiency Study

IOFM 3 Ways Automation Improves Financial Operations Visibility

https://www.strategyanalytics.com/access-services/enterprise/mobile-workforce/market-data/report-detail/global-mobile-workforce-forecast-2015-2020#.Vw1xjY3ru70

69% of controllers say that improving visibility into cash flow and cash management is among their priorities.

The global mobile workforce is set to increase from 1.32 billion in 2014 to 1.75 billion in 2020.

50% of all invoices still arrive as paper.

#2

AP staff spend hours manually keying in and sorting invoice and payment data from paper files. This leads to:

AP staff eliminate the excessive time and errors from manually entering invoice data. They use ECM to automatically:

PUTS VENDOR RELATIONSHIPS IN JEOPARDY

WHEN STAFF CANNOT LOCATE THE

INFORMATION THEY NEED TO RESOLVE A

PAYMENT QUESTION OR ISSUE.

COMPLICATES THE FINANCIAL CLOSE AND

AUDITING PROCESSES — PUTTING THE

BUSINESS AT RISK FOR HEAVY COMPLIANCE

FINES AND PENALTIES.

SECURE AND CENTRALIZE CRITICAL

AP DOCUMENTS IN ONE DATABASE.EASILY GRANT INFORMATION ACCESS

TO THOSE WHO NEED IT.AUTOMATE INVOICE PROCESSING

AND ACCELERATE APPROVALS.

Limited Access

Download the extended eBook at onbase.com/accelerate-ap or visit onbase.com/accountspayable

INVOICES

RECEIPTS

PACKING SLIPS

CHECKS

VENDOR CONTRACTS

$ $

Join Team ECM. Learn how to lose the paper and win with OnBase.

APPROVE

$

$

Paper vs. ECM:WHO WILL WIN THE AP PLAYOFF?

#1Inefficient Processes

#3Poor Visibility